“The GPS navigation is the weakest point,” the Iranian engineer told the Monitor, giving the most detailed description yet published of Iran’s “electronic ambush” of the highly classified US drone. “By putting noise [jamming] on the communications, you force the bird into autopilot. This is where the bird loses its brain.”
Comments »Goldman Tells the Story of the World in Charts
Mario Monti Wins His Confidence Vote on a 30 Billion Euro Austerity Package
India Leaves Rates Unchanged
Speculation of ECB Purchases Take Down Yields of Spanish and Italian Bonds
Lagarde: Euro Crisis is Accelerating
“The European debt crisis is growing to the point that it won’t be solved by one group of countries, Christine Lagarde, the managing director of the International Monetary Fund said today.
Lagarde said that if countries don’t work together, the world will face a situation similar to the 1930s, before the world slid into World War II.
“There is no economy in the world, whether low-income countries, emerging markets, middle-income countries or super- advanced economies that will be immune to the crisis that we see not only unfolding, but escalating at a point where everybody would actually have to focus on what it can do,” Lagarde said.
If the international community doesn’t work together, “the risk from an economic point of view is that of retraction, rising protectionism, isolation,” Lagarde said. “This is exactly the description of what happened in the ‘30s and what followed is not something we are looking forward to.”
Comments »China’s U.S. Treasury Purchases Fall for the First Time Since July
Just a 1.2% drop in purchases….perhaps they have been more interested in gold.
Comments »Interbank Loan Rates Rise in Europe as Five Banks are Downgraded
ECB’s Draghi Plays Down a Move for QE
Preliminary PMI Suggests China May See More Contraction in Manufacturing
Final revision of November’s read took China’s manufacturing index from 49 to 47.7…
Comments »Japanese Manufacturing Sentiment Falls; Sending Asia Into Negative Trade
“Japanese stocks fell for a third day after manufacturing sentiment worsened and rising financing costs fueled concern Europe is losing its fight against debt.”
Comments »Europe and U.S. Futures Rally on a Successful Spanish Debt Auction
Spain got off an auction raising double the expected amount. Good news for the Spaniards and the EU region as a whole.
Comments »Bernanke Says There is No Intention For Helping EU Banks
Bernanke spoke with Republican senators yesterday stating the U.S. and the Fed have no plans to aid EU banks.
Comments »FLASHBACK: NIGEL FARAGE FUCKING DESTROYS THE EUROZONE
http://www.youtube.com/watch?v=lqovTGjYjM4&feature=related
Comments »FIRST CHINESE AIRCRAFT CARRIER SPOTTED IN YELLOW SEA: WELCOME TO THE 1920’s
Kyle Bass: Best Option for Europe is to Break Up
“With no workable solutions in sight and a sovereign debt crisis only likely to get worse, the European Union is likely to see an ultimate breakup, widely followedhedge fund ![[cnbc explains]](http://ibankcoin.com/news/wp-content/imagescaler/b095857bc35684a1ecf9bbc7c44ce936.gif){kind=small}
executive Kyle Bass told CNBC.
Bass, the managing partner at Hayman Capital Management famous for making huge sums from the collapse of the subprime mortgage industry, said last week’s EU summit produced “a blank piece of paper” on which “there are no details,” causing him to conclude, “It won’t work.”
Comments »Eastern Europe Fails to Back Western Europe After Much Financial Help
Italy in Focus and the Risks to Europe
The Risk Europe Poses on the U.S.
Italy’s Government Warns of Upcoming Political Violence as Letter Bombs and Bullets Have Been Mailed to Officials
“When the shit goes down you better be ready”
[youtube://http://www.youtube.com/watch?v=V7RMKq8RQj4 450 300] [youtube://http://www.youtube.com/watch?v=7eFgbaKAlRg 450 300] Comments »
